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Market Report

Monday, 22-May-2017


  • Equity benchmarks BSE Sensex and NSE Nifty settled a choppy session in the green today following positive global cues. The 30-share BSE Sensex closed 106.05 points, or +0.35 per cent, higher at 30,570.97 today, while the Nifty index settled 10.35 points, or +0.11 per cent, up at 9,438.25 today.

  • Making a decent start to the week, domestic equity benchmarks ended today's session in the green amid sustained optimism over GST implementation. On Friday, the GST Council unveiled four tax slabs under the goods and services tax (GST) for services in line with those applying to goods in a big departure from the current single rate of 15 per cent applied on most services.

  • The domestic market had a strong start but a flat closing in today's session. The Nifty50 has been seeing this trend often these days, reflecting the uneasiness among traders at higher levels. The 50-pack Nifty today remained in a range, which was smaller than that of Friday, thus making an 'inside candle' on the daily chart. The index continues to sustain above the 9,400 level on a closing basis. Unless this 9,400 level is broken, the short-term downtrend shall not be confirmed. Traders can maintain a positive bias and shift focus to stock-specific counters, say experts. They do not expect bigger moves either, unless the Nifty50 registers a close above the 9,532 level.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)